US$ 500 surplus in 2004 balance of payments

The Central Bureau of Statistics ( CBS) reported last week that Israel recorded a $500 million balance of payments surplus for 2004, and $1 billion in 2003-2004.
 
According to the CBS's report Israel’s goods and services account deficit in 2004 was $1.7 billion, 11% less than in 2003. Total foreign financial investment in Israel was up in 2004 2.7-fold to $5.4 billion, compared with $2 billion in 2003.
 
However, direct foreign investment totaled $1.6 billion in 2004, 60% less than in 2003. The CBS's report also points out that overseas investment by Israelis was up 54% in 2004 to $10 billion. This, according to the CBS, is a new overseas investment record for a single year. Total Israeli overseas investment during the past two years was $16.5 billion.